{
    "ok": true,
    "_meta": {
        "validator": "oppl_complex_asset_json_validator",
        "validator_version": "1.1.1",
        "captured_at_utc": "2026-08-08T14:01:54+00:00",
        "captured_unix": 1786197714,
        "input_source": "url",
        "input_url": "https://oppl.ai/llms/runs/etf/IE00BFZPF439_strict_latest.json",
        "source_assessment_hash": "f5ee92bb02481288f6803f923456009bf9cc384e57960999c78fa9a7c4878ff3",
        "agent_enabled": true,
        "agent_provider": "openrouter",
        "agent_model": "gpt-4.1-mini",
        "agent_temperature": 0,
        "agent_max_tokens": 1800,
        "warn_short_agent": true,
        "validator_modes": {
            "deterministic": "executed",
            "agent": "executed"
        }
    },
    "isin": "IE00BFZPF439",
    "classification": "complex",
    "policy_mode": "strict",
    "decision_rule_applied": "etf_coco_or_at1_exposure_hard_complex_rule",
    "validator_verdict": "pass",
    "publishable": true,
    "confidence": 0.88,
    "issue_count": 0,
    "issues": [],
    "suggested_repairs": [],
    "deterministic_review": {
        "ok": true,
        "validator_type": "deterministic",
        "validator_verdict": "pass",
        "publishable": true,
        "confidence": 0.88,
        "issues": [],
        "suggested_repairs": [],
        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": "coco_or_at1_exposure",
            "decision_rule_signal_true": true,
            "decision_rule_signal_supported": true,
            "true_hard_signals": [
                "coco_or_at1_exposure"
            ],
            "supported_hard_signals": [
                "coco_or_at1_exposure"
            ],
            "unsupported_hard_signals": [],
            "checks": {
                "coco_or_at1_exposure": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 2,
                    "decision_rule_uses_signal": true,
                    "matches": [
                        {
                            "index": 0,
                            "source": "PRIIPS_KID",
                            "evidence_signal": "coco_or_at1_exposure",
                            "quote": "The Index aims to measure the performance of USD-denominated contingent convertible bonds issued by banks from developed countries worldwide."
                        },
                        {
                            "index": 1,
                            "source": "FACTSHEET",
                            "evidence_signal": "priips_comprehension_alert",
                            "quote": "This product is difficult to understand. The CNMV in Spain considers that, in general, Invesco AT1 Capital Bond UCITS ETF EUR Hdg Dist is not appropriate for retail investors."
                        }
                    ]
                }
            }
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "strict",
            "type": "ETF",
            "ucits": true,
            "physical_replication": false,
            "swaps_signal": false,
            "synthetic_replication": false,
            "derivatives_core_strategy": false,
            "derivatives_epm_only": true,
            "derivative_evidence_count": 1,
            "swap_evidence_count": 0,
            "permission_or_ancillary_evidence_count": 1,
            "core_derivative_evidence_count": 0,
            "only_permission_or_ancillary_derivative_evidence": true,
            "supported_independent_hard_signals": [
                "coco_or_at1_exposure"
            ]
        },
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
            "has_epm_only_evidence": false,
            "has_core_derivatives_evidence": false,
            "has_generic_fdi_permission_evidence": true,
            "has_option_overlay_evidence": false
        }
    },
    "agent_review": {
        "ok": true,
        "model": "gpt-4.1-mini",
        "temperature": 0,
        "max_tokens": 1800,
        "usage": {
            "prompt_tokens": 2700,
            "completion_tokens": 219,
            "total_tokens": 2919,
            "raw": {
                "prompt_tokens": 2700,
                "completion_tokens": 219,
                "total_tokens": 2919,
                "cost": 0.0014304,
                "is_byok": false,
                "prompt_tokens_details": {
                    "cached_tokens": 0,
                    "cache_write_tokens": 0,
                    "audio_tokens": 0,
                    "video_tokens": 0
                },
                "cost_details": {
                    "upstream_inference_cost": 0.0014304,
                    "upstream_inference_prompt_cost": 0.00108,
                    "upstream_inference_completions_cost": 0.0003504
                },
                "completion_tokens_details": {
                    "reasoning_tokens": 0,
                    "image_tokens": 0,
                    "audio_tokens": 0
                }
            }
        },
        "cost": {
            "estimated": false,
            "actual_provider_cost_available": true,
            "model": "gpt-4.1-mini",
            "prompt_tokens": 2700,
            "completion_tokens": 219,
            "total_tokens": 2919,
            "input_cost_usd": 0.00108,
            "output_cost_usd": 0.0003504,
            "estimated_cost_usd": 0.0014304,
            "pricing_basis": "openrouter_usage_cost"
        },
        "review": {
            "validator_verdict": "pass",
            "publishable": true,
            "confidence": 0.93,
            "summary": "The assessment is internally consistent with classification 'complex' driven by a hard-complex signal 'coco_or_at1_exposure' fully supported by product-specific evidence from PRIIPS_KID. Derivative signals indicate derivatives_epm_only=true and derivatives_core_strategy=false, consistent with evidence showing only ancillary/permission-level derivative use. There is no conflict between derivatives_epm_only and derivatives_core_strategy. The counterparty_risk signal is supported by language identified but does not overstate OTC swap exposure. HELO or option overlay strategies are not present, so no reclassification needed. All supporting evidence quotes match their signal labels. The product is a physical replication UCITS ETF with CoCo/AT1 bond exposure, correctly classified as complex under strict policy. The JSON is internally consistent, policy-compliant, and client-publishable as-is. No repairs are necessary.",
            "issues": [],
            "suggested_repairs": []
        }
    }
}